Telemark Asset Management LLC Reduces Position in Alphabet Inc. $GOOGL

Telemark Asset Management LLC lessened its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 62.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 30,000 shares of the information services provider’s stock after selling 50,000 shares during the quarter. Telemark Asset Management LLC’s holdings in Alphabet were worth $5,287,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Bridgeway Capital Management LLC boosted its position in Alphabet by 17.9% during the first quarter. Bridgeway Capital Management LLC now owns 88,187 shares of the information services provider’s stock valued at $13,637,000 after purchasing an additional 13,371 shares in the last quarter. Alaethes Wealth LLC raised its holdings in Alphabet by 1.1% in the first quarter. Alaethes Wealth LLC now owns 7,646 shares of the information services provider’s stock worth $1,182,000 after purchasing an additional 84 shares in the last quarter. Moment Partners LLC lifted its position in shares of Alphabet by 9.3% during the second quarter. Moment Partners LLC now owns 5,896 shares of the information services provider’s stock valued at $1,039,000 after buying an additional 504 shares during the last quarter. Welch Group LLC boosted its holdings in shares of Alphabet by 4.0% in the 2nd quarter. Welch Group LLC now owns 64,262 shares of the information services provider’s stock valued at $11,325,000 after buying an additional 2,467 shares in the last quarter. Finally, Elgethun Capital Management boosted its holdings in shares of Alphabet by 4.8% in the 1st quarter. Elgethun Capital Management now owns 8,487 shares of the information services provider’s stock valued at $1,312,000 after buying an additional 390 shares in the last quarter. Institutional investors own 40.03% of the company’s stock.

Insider Buying and Selling at Alphabet

In other Alphabet news, CAO Amie Thuener O’toole sold 954 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $317.00, for a total value of $302,418.00. Following the sale, the chief accounting officer directly owned 11,740 shares of the company’s stock, valued at approximately $3,721,580. This represents a 7.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Frances Arnold sold 102 shares of the stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $317.66, for a total value of $32,401.32. Following the sale, the director directly owned 18,104 shares in the company, valued at $5,750,916.64. This represents a 0.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 193,628 shares of company stock valued at $50,942,622. 11.55% of the stock is currently owned by insiders.

Alphabet Stock Performance

Shares of GOOGL opened at $315.81 on Wednesday. The stock has a 50-day moving average of $271.77 and a two-hundred day moving average of $221.67. Alphabet Inc. has a one year low of $140.53 and a one year high of $328.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.75 and a current ratio of 1.75. The stock has a market cap of $3.81 trillion, a P/E ratio of 31.15, a P/E/G ratio of 1.82 and a beta of 1.07.

Alphabet (NASDAQ:GOOGL) last announced its quarterly earnings data on Wednesday, October 29th. The information services provider reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.29 by $0.58. Alphabet had a return on equity of 35.00% and a net margin of 32.23%.The business had revenue of $102.35 billion for the quarter, compared to analyst estimates of $99.90 billion. As a group, research analysts predict that Alphabet Inc. will post 8.9 EPS for the current year.

Alphabet Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 8th will be given a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, December 8th. This represents a $0.84 dividend on an annualized basis and a yield of 0.3%. Alphabet’s dividend payout ratio (DPR) is currently 8.28%.

Wall Street Analyst Weigh In

GOOGL has been the subject of several recent analyst reports. Citic Securities boosted their price objective on shares of Alphabet from $230.00 to $310.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Guggenheim reaffirmed a “buy” rating and set a $375.00 price target (up from $330.00) on shares of Alphabet in a research report on Monday. Rosenblatt Securities increased their price objective on Alphabet from $224.00 to $279.00 and gave the company a “neutral” rating in a report on Thursday, October 30th. DZ Bank restated a “buy” rating on shares of Alphabet in a research note on Thursday, November 20th. Finally, New Street Research upped their target price on Alphabet from $275.00 to $295.00 in a research report on Friday, October 24th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-one have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Alphabet currently has an average rating of “Moderate Buy” and an average price target of $312.06.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.